Arnold, the ex-husband of Roseanne Barr, tweeted a picture of himself and Cohen on Thursday with the caption "I love New York."

Zero Hedge reports: After languishing in near obscurity for over a decade doing bit-parts and cameos, Arnold was tapped by Vice in May for a new show called "The Hunt for the Trump Tapes," which will investigate the existence of long-rumored tapes claiming to show President Trump saying or doing compromising things.

Arnold would not say whether Cohen was planning to give him any tapes he might have of conversations with Trump.

But he added, "This dude has all the tapes — this dude has everything." -NBC News

Arnold admitted that tweeting the photo with Cohen was "indiscreet" - but that Cohen has been betrayed by Trump after many years of loyalty.

"Michael Cohen showed up and worked diligently above and beyond and sacrificed and Donald Trump is like I don’t even know who he is. You think Michael doesn’t notice that?" Arnold said.

On Friday, Arnold backpedaled "clarified" that "Michael Cohen didn’t say Me & him were teaming up to take down Donald Trump! Michael has enough Trump on his plate. I’m the crazy person who said Me & Michael Cohen were teaming up to take down Trump of course. I meant it." FYI this is what a "tap on the shoulder" looks like...

Michael Cohen says Arnold merely asked him for a selfie in a hotel lobby

Cohen, often described as Trump's "fixer," is currently under investigation by federal prosecutors in New York over various business dealings - including a $130,000 payment to porn star Stormy Daniels in exchange for her silence over an alleged affair she had with President Trump.

Trump has denied the claims.

The probe was launched based on a referral from special counsel Robert Mueller, who is investigating Russian interference in the 2016 election and possible ties to the Trump campaign and who has secured indictment against other Trump allies.

Cohen, who has denied wrongdoing and has not been charged with a crime, has already talked to congressional investigators. In October, he was questioned about a scuttled plan to build a Trump Tower in Moscowand emails he received in 2015 from Felix Sater, a former Trump associate, about the real estate deal. -NBC News

Sater - who works for the FBI, sat down with Tom Arnold in early May where they "shared stories about NY real estate, our mutual friend, visiting our mutual friend on the set of the Apprentice, Russia & Video tapes."

Cohen reportedly hired a new attorney earlier this week - a former prosecutor for the U.S. attorney's office in Manhattan - following a dispute over legal bills with his prior legal team. His law office and hotel room were raided in April, where boxes of documents, phones, electronic devices and computer equipment were seized.

At a recent court hearing, prosecutors said they were still sorting through the material and needed more time to piece together the contents of a shredder and gain access to a BlackBerry.

Even before the raids, federal investigators had been monitoring Cohen's phone lines, multiple senior officials and individuals with knowledge of the legal proceedings have told NBC News.

The calls were logged by what is commonly referred to as a pen register, which records the number of the phone that made the call and the number that received it, but does not record the contents of any conversation.

Will a C-list celebrity (perhaps best known for his former wife, Roseanne) take down the president with the help of Michael Cohen? Tune in and find out on the next episode of whatever timeline this is.

Michael Cohen denies claims

Longtime Trump lawyer Michael Cohen has played down claims by actor Tom Arnold that he is preparing to join forces with the comedian to “take down” the president.

According to the Daily Beast, the comedian later walked back his claims but sowed more confusion when he went on CNN late Friday to warn President Trump he would be “spending the weekend with Michael Cohen” and “there’s a lot going on.”

Cohen, who is currently under federal investigation for his personal business deals, tweeted late Friday that the photo of him with Arnold was from a “chance, public encounter in the hotel lobby where he asked for a selfie.”

“Not spending the weekend together, did not discuss being on his show nor did we discuss the president,” he wrote, adding a “ridiculous” and “done” hashtag.

Appreciate @TomArnold kind words about me as a great father, husband and friend. This was a chance, public encounter in the hotel lobby where he asked for a selfie. Not spending the weekend together, did not discuss being on his show nor did we discuss @POTUS. #done#ridiculous